Currency pair US Dollar Canadian Dollar USD/CAD continues to move in the framework of the correction. At the time of the publication of the forecast, the rate of the US Dollar to the Canadian Dollar is 1.3459. At the moment, we should expect an attempt to decrease and test the support level near the 1.3420 area. Further, the continued growth of the currency pair on Forex. A potential target of recovery is the area above the level of 1.3645.
USD/CAD forecast Canadian Dollar December 21, 2018
In favor of the growth of quotations of the Canadian Dollar will test the rising trend line on the indicator of relative strength index (RSI). As well as a rebound from the lower boundary of the bullish channel. Cancellation of the growth option USD/CAD at Forex will be the fall and the breakdown of the 1.3355 area. This will indicate a breakdown of the support level and a continued decline in quotations to the area below the level of 1.3250. The pair is expected to accelerate growth with a breakdown of the resistance area and closing of the USD/CAD quotes above the level of 1.3525.
Among the important news from Canada, which may have an impact on the course of the pair USD/CAD, is not expected, it is worth highlighting: Changes in GDP.
USD/CAD forecast Canadian Dollar December 21, 2018 implies an attempt to test the support area near the level of 1.3420. Further, the continuation of growth in the region above the level of 1.3645. An additional signal in favor of raising the pair at FOREX will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth of the Canadian Dollar will be the fall and the breakdown level of 1.3355. This will indicate a continued decline.
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